North America Blood Transfusion Diagnostics Market
The North America blood transfusion diagnostics market is expected to grow from US$ 1,815.82 million in 2022 to US$ 2,742.80 million by 2028. It is estimated to grow at a CAGR of 7.1% from 2022 to 2028.
Need for Blood Transfusion due to Rise in Organ Transplants Surgeries Drives Market Growth
Organ transplantation is a surgical procedure performed in case of failure of organs such as heart, liver, and kidney. The rising cases of chronic diseases, such as chronic kidney disease (CKD), polycystic kidney disease, cystic fibrosis, and congenital heart disease, are triggering the number of organ transplant surgeries performed. These procedures generally take hours, and a lot of blood is lost during the procedure, which leads to the requirement for blood transfusion. The public-private partnership, in collaboration with transplant coordinators, has significantly contributed to the improvement of organ transplants that require a constant need for blood transfusion. The number of organ transplant surgeries has surged in, both, developing and developed countries. Healthcare sectors in developing countries, which are gathering large attention as medical tourism destinations, are undergoing continuous advancements, which allows them to provide better and more modern medical treatments. The rising need for organ transplants is a key factor driving the demand for blood transfusion diagnostics across North America.
Market Overview
The North America blood transfusion diagnostics market has been segmented into the US, Canada, and Mexico; the US is the largest contributor to the market in this region. The blood transfusion diagnostics market growth in North America is attributed to the rising number of surgical procedures for chronic health conditions. Per the American National Red Cross Organization, 2022, ~29,000 units of red blood cells; ~5,000 units of platelets; and ~6.500 units of plasma are needed daily in the US. ~16 million blood components are transfused each year in the US. A car accident victim may require as many as 100 units of blood. According to data published by the American Academy of Orthopedic Surgeons in 2018, orthopedic surgeries are among the most commonly performed procedures in the world. Studies conducted by the American Academy of Orthopedic Surgeons estimated that the number of total joint replacement (TJR) procedures is likely to surge by 171% by 2030, while total knee replacement procedure count is expected to surge by 189%, reaching ~635,000 and 1.28 million, respectively. Thus, with the elevating number of patients undergoing orthopedic surgeries, the demand for blood transfusion is also rising, thereby boosting the blood transfusion diagnostic market in North America.
Strategic insights for the North America Blood Transfusion Diagnostics provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Blood Transfusion Diagnostics refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
Get more information on this report North America Blood Transfusion Diagnostics Strategic Insights
Get more information on this report North America Blood Transfusion Diagnostics Report Scope
Report Attribute
Details
Market size in 2022
US$ 1,815.82 Million
Market Size by 2028
US$ 2,742.80 Million
Global CAGR (2022 - 2028)
7.1%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Product
By Application
By End User
Regions and Countries Covered
North America
Market leaders and key company profiles
Get more information on this report North America Blood Transfusion Diagnostics Regional Insights
Get more information on this report North America Blood Transfusion Diagnostics Market Segmentation
The North America blood transfusion diagnostics market is segmented based on product, application, end user, and country.
on the basis of application, the North America blood transfusion diagnostics market is bifurcated into blood grouping and disease screening. The disease screening segment held a larger market share in 2022. In terms of end user, the North America blood transfusion diagnostics market is segmented into hospitals, diagnostic laboratories, blood banks, and plasma fractionation companies. The blood banks segment dominated the market in 2022. The North America blood transfusion diagnostics market, by country, has been classified as the US, Canada, and Mexico; the US dominated the market in 2022.
Abbott; BAG Diagnostics GmbH; Bio-Rad Laboratories, Inc.; DiaSorin S.p.A.; F. Hoffmann-La Roche Ltd; Grifols, S.A.; Immucor, Inc.; Ortho Clinical Diagnostics (QuidelOrtho Corporation); Quotient Limited; and Thermo Fisher Scientific Inc. are the leading companies operating in the North America blood transfusion diagnostics market.
The North America Blood Transfusion Diagnostics Market is valued at US$ 1,815.82 Million in 2022, it is projected to reach US$ 2,742.80 Million by 2028.
As per our report North America Blood Transfusion Diagnostics Market, the market size is valued at US$ 1,815.82 Million in 2022, projecting it to reach US$ 2,742.80 Million by 2028. This translates to a CAGR of approximately 7.1% during the forecast period.
The North America Blood Transfusion Diagnostics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Blood Transfusion Diagnostics Market report:
The North America Blood Transfusion Diagnostics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Blood Transfusion Diagnostics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Blood Transfusion Diagnostics Market value chain can benefit from the information contained in a comprehensive market report.
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